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Author Question: Your personal balance sheet provides A) an estimate of your net worth at a point in time. ... (Read 19 times)

elizabeth18

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on: Jul 11, 2018
Your personal balance sheet provides
 
  A)
 
  an estimate of your net worth at a point in time.
  B)
 
  an illustration of how your wealth has changed over time.
  C)
 
  a summary estimate of your expenses and income over the previous year.
  D)
 
  a pro forma budget for the coming year.

Question 2

A personal income statement shows
 
  A)
 
  a detailed breakdown of cash income and expenses over a past period of time.
  B)
 
  a comparison of income and expenses at a point in time.
  C)
 
  your contribution to savings for the year by following strict accounting rules for determining net income.
  D)
 
  all revenue, expense, asset, liability, and net worth items.


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at

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Reply #1 on: Jul 11, 2018
Answer to Question 1

A

Answer to Question 2

A


elizabeth18

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Reply 2 on: Jul 11, 2018
:D TYSM

scottmt

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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